Streetbeat News

Regulatory

CSCO

GM

SPLK

STLA

The Federal Open Market Committee (FOMC) decided to leave rates unchanged at 5.25%-5.5%, signaling a more hawkish path ahead. Treasury yields hit 17-year highs. Cisco Systems announced an agreement to acquire cybersecurity company Splunk. The stock market witnessed a volatile week with the S&P 500 Index and the Nasdaq 100 recording their worst trading week since early March 2023. Interest rate-sensitive sectors underperformed, while defensive angles fared better. The United Auto Workers revealed its plan to widen the scope of strikes to 38 facilities in 20 states, primarily targeting General Motors and Stellantis.

Portfolio Pulse from Piero Cingari

September 22, 2023 | 8:07 pm

MDRX

Veradigm, a division of Allscripts Healthcare Solutions (MDRX), has received a delisting notice from Nasdaq. The company intends to appeal against this decision.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:02 pm

BWEN

Broadwind Inc has filed for a mixed shelf offering of up to $75 million, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:59 pm

JPM

JPMorgan Chase & Co CEO Jamie Dimon visited Detroit to mark the 10 years since the bank's $200-million investment in the city. He spoke about the company's efforts in Detroit, general economic trends, and geopolitical risks. Dimon addressed being cautious about the outlook of China and the necessity of spending on the U.S. military. He also expressed concerns about government spending leading to inflation. The bank's investment in Detroit has helped create jobs and support small businesses and housing development.

Portfolio Pulse from Aaron Bry

September 22, 2023 | 7:41 pm

PFE

Pfizer's ABRYSVO, a vaccine for respiratory syncytial virus (RSV), has been recommended by the CDC Advisory Committee for pregnant individuals between 32 and 36 weeks gestation. This recommendation expands Pfizer's portfolio of respiratory vaccines, which already includes vaccines for RSV in older adults, COVID-19, and pneumococcal pneumonia in adults.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:19 pm

BTCUSD

Caitlin Long, CEO of Custodia Bank, compared the current state of the cryptocurrency industry to the tech stock bubble of 1999, stating that 99% of the industry needs to 'burn to the ground'. She criticized the regulatory approach in the US, suggesting that it has been too harsh and has stifled innovation. She also expressed concern about the high levels of leverage in the industry.

Portfolio Pulse from Jose Rodrigo Safdiye

September 22, 2023 | 7:16 pm

WW

Blue Cross Blue Shield (BCBS) of Michigan has issued an alert indicating that members must participate in lifestyle modification activities, including programs like WeightWatchers or Noom, before approval for weight loss drugs. This change will be effective from October 2023. The news has led to an increase in the share price of WW International, the company that owns WeightWatchers.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:43 pm

NVO

WW

Blue Cross Blue Shield of Michigan and Blue Care Network will change the prior authorization approval criteria for commercial PPO and HMO plans for weight loss drugs, including Contrave, Generic Amphetamine Sulfate, Qsymia, Saxenda, Wegovy, and Xenical, starting October 1.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:40 pm

EWW

TSLA

Tesla has secured environmental impact permits for its Giga Mexico project, marking a significant step forward in its expansion plans.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:34 pm

AMZN

GOOG

MSFT

NVDA

The White House is considering regulations that would require cloud companies to disclose their AI customers. This could impact major players like Amazon (AMZN), Google (GOOG, GOOGL), Microsoft (MSFT), and Nvidia (NVDA).

Portfolio Pulse from Charles Gross

September 22, 2023 | 6:04 pm